PAULA LLANOS
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242-244 Main Street

Paterson, NJ 07505 · Listing #26011325

$1,399,000

242-244 Main Street — primary photo
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About this home

Beds

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Baths

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Living area

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Type

Retail

Location, Location, Location! An unbeatable investment opportunity awaits the savvy investor in the absolute heart of downtown with this premier 6-level mixed-use building. The property features a high-visibility ground-floor retail space with large windows perfect for attracting maximum foot traffic, situated beneath 5 spacious residential units that provide a steady, diversified income stream. Financially optimized for low landlord oversight, all utilities are completely separate with tenants paying for their own heat, gas, and electric, while the landlord is only responsible for water. The asset currently generates a robust Net Operating Income (NOI) of $73,418 on a Gross Rental Income of $126,840, offering immediate, incredible upside potential to maximize your return since all rents feature a built-in 5% annual increase and one apartment is delivered vacant, ready for immediate market-rate rental. Sold strictly "AS-IS,"

Status

Active

New Jersey Multiple Listing Service, Inc. IDX

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